Professional services group S&W has agreed to acquire Beechwood Partners, a Dublin-based company that provides accountancy and tax advisory services.
Beechwood's 35 staff and partners will join S&W Ireland, which currently employs more than 80 people in Sandyford. S&W has more than 1,850 employees and over 120 partners in the UK and Ireland.
“Having grown Beechwood Partners as a successful independent business over the past 20 years, the timing is right to pursue an exciting next chapter by partnering with a large, well-established firm," said Weston Allen, partner at Beechwood Partners.
"Having considered a number of options, S&W has given us every confidence that this deal will empower us with the necessary infrastructure and support to improve and expand our service offerings while continuing to grow our business and service our clients’ needs.
“The entire team we have cultivated at Beechwood Partners will form the basis for S&W’s new Irish private client tax service, drawing on the huge heritage S&W have in this area in the UK while ensuring a seamless transition for our unique client base here in Ireland. We and all the team at Beechwood Partners are looking forward to this next chapter with S&W.”
S&W builds on the heritage of Smith & Williamson, the professional services firm that traded from 1881 to 2019 when it was acquired by Tilney before being rebranded as Evelyn Partners.
The deal for Beechwood Partners represents the first acquisition for S&W as a standalone group since its launch in March following the sale of Evelyn Partners' professional services business to Apax Partners.
“I’m delighted to welcome the team from Beechwood Partners to S&W in our first acquisition as a stand-alone group as we play out our drive to accelerate growth," said Andrew Wilkes, chief executive of S&W.
"Beechwood Partners is a highly respected business that shares our partner-led approach of developing long-standing relationships with clients and adding meaningful value. This deal strengthens our position in Ireland and forms part of our growth strategy of acquiring high-quality accountancy firms with complementary expertise.
"We look forward to making further updates in the coming months as we continue to strengthen our offerings to our clients through the execution of high-quality acquisitions.”
In Ireland, S&W offers corporate tax advice, assurance and business services as well as recovery and restructuring, transaction services and forensic advice.
The agreement to take over Beechwood Partners means that S&W can now also provide its clients with a suite of private client tax solutions in Ireland, while also bolstering its business outsourcing services and business tax offering.
“Acquiring Beechwood Partners builds on our long-standing commitment to the Irish market and forms part of our ambitious expansion plans of growing through M&A as well as hiring staff at all levels," said John O'Callaghan, managing partner at S&W Ireland.
"Welcoming the Beechwood Partners team brings a new private client tax service offering to S&W in Ireland and ensures that we can offer our clients in Ireland the full-suite of high-quality accountancy and advisory services that they expect.”
S&W Ireland, then registered as CLA Evelyn Partners (Ireland) Ltd, reported turnover of €2.7m in 2023. Beechwood Partners Ltd made a profit of €15,600 the same year, up from €9,400 in 2022.
Photo: John O’Callaghan (centre), Managing Partner S&W Ireland, Weston Allen (left), Partner at Beechwood Partners, David Stafford (right), Partner at Beechwood Partners. (Pic: Supplied)
